Minimum sales of $30K equity funds pa - aargh... during my retirement i may need to rope in my upline to be my agent as i may not be able to continue at that clip ($30K pa) for mutual funds

This post has been edited by wongmunkeong: Nov 25 2011, 08:54 AM

aiyo bro - be agent gotta pour in $100+ to $200 pa for agent cost & system/software cost AND must keep bringing in sales qouta of >=$30K pa for equity funds.
Not everyone can be "self sufficient" to hit that $30K equity funds sales even with priming from family members (assuming all via EPF to Equity funds only).

Thus, since it's a biz, why not TALK and NEGOTIATE with your agent lar for "better value" since U know them numbers liao.
Keep in mind, agents also get a 0.2% pa of TOTAL LOADED UNITS VALUE HELD BY CUSTOMERS and other perks like trips, incentive bonuses if hit $xxx,xxx, xxx etc.

Mind U, i've never tasted any of those except the 0.2%pa heheh - i'm not a million roundtable sales agent mar.
Bottom line - go lar talk & nego with yr agent - they sure want long term wan, especially if U DIY most of the things yourself and they just submit for U Heck, with the PMO (Public Mutual Online), U can DIY everything EXCEPT EPF --> Mutual Funds only.

This post has been edited by wongmunkeong: Nov 25 2011, 08:54 AM

PM started clamping down this year - the qouta thing was sent out officially i think this Oct/Nov. Quite a number of sleeper agents and customeragents got startled.

Previous years (looooooooooong time ago when i started), no official letters/memos & warning sent out - heheh, i remember coz i definitely didnt hit $30Kpa last time.

This post has been edited by wongmunkeong: Nov 25 2011, 10:21 AM

$30K Sales of Equity Funds per annum - i think that statement means every year an agent has to get ADDITIONAL minimum $30K sales lar.

perhaps another way of putting it would be:
anyone sitting & passing the exam and paying the agent / fmutm fees can be agent
then anyone that can hit or better the $30K pa sales of equity funds can continue without being harassed by PM (well, until they raise the quota)


This post has been edited by wongmunkeong: Nov 25 2011, 11:43 AM

That is ASS U MEing that the fund U want to buy/sell is highly correlated with the KLCI

My personal investments currently are more than $30K pa, thus no issue. Thank goodness that $30K quota wasnt enacted in yester years.

However, i think i've mis-communicated bad enough that you misconstrued that i'm not an agent for other people. I stated something to the effect of "i'm not out to get sales or anything as i dont live on commissions, thus i'm a lazy & picky agent". If a friend, acquaintance or a friend's spouse is interested in proper, step-by-step investing and is agreeable to draw up a proper planned approach, i can assist. Else, i wouldnt dare touch, even with a 10' pole as i've seen even family members tear into each other when it comes to $ and "investments" (which was actually nothing but pure trading/speculating/hope).

This post has been edited by wongmunkeong: Nov 25 2011, 09:15 PM

Gambate!

IMHO, the CAMS software isnt the kicker, it's the FPAdvisor Lots of stats and "queries" U can run to checkout each fund's performance in good, medium and bad years just by fiddling around with the "end date".

As for the classes - i consider it dirt cheap $10 if you've not learned yet through experience and books. Where to find classes for a whole day costing $10 WITH refreshments (water & food) these days? Even the knowledge itself is worth more than $10 if one's a newbie or semi-newbie in investing. Whatever U learn & experience, no one can take it away from U and U can build on top of each learning and experience.

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Added on November 25, 2011, 9:47 pmHeheh - no idea whether 1,700 can be reached by KLCI.
My personal approach Asset Allocation + i dunno whether tomorrow up/down, but i do know today value or not
Hey, remember the old joke where a super investor was asked where he/she thinks the market will go?
The super investor said up and down, and left it at it.

This post has been edited by wongmunkeong: Nov 25 2011, 10:09 PM

Best-est time, in my humble opinion, to top up (sorted by most oomph as (1.) ):
1. Based on your Entry rules built upon:
a. Asset Allocation
b. Projected cash savings
c. Investments' timeline, growth & income requirements

2. Based on value
a. market crashes (fear is a big problem to execute here for most folks)
b. constant periodic value averaging (no fear/greed but takes a bit more effort than Dollar Cost Averaging)

3. Based on blind (no fear/greed) and constant periodic Dollar Cost Averaging

4. Based on your own plans (eg. Trend, Enter when below your holdings' average NAV, Enter when NAV less than 3 years moving average NAV, etc.)

IMHO, other than the above, one literally is just rolling the dice unplanned. Then again, i've met a few (very few) lucky folks Well, since i'm not born rich or incredibly long-shot lucky, i guess i'll have to toil using the approaches above

This post has been edited by wongmunkeong: Dec 30 2011, 08:04 AM

Yes - Redeem/Sell back to Public Mutual, Buy, Open new fund account, check transactions, etc.

Lunchtime, while i'm in agreement with U that not all funds are ichiban / best thing since sliced bread, as an investor, i'd also look at different time lines, not just current to have better comparisons.
Example:
If i chose to check on PCIF:
1. From inception till now or end 2008 - performance sucks
2. from 23/01/2009 till now - low returns but not negative.

Thus, for an example depending on the entry/exit approach of an investor, if value averaging was done, although kinda miserable (PCIF), one may eek out some returns. Heheh - unsure ar, as i've no data on PCIF's divends and stuff. The only data i have are the NAVs attached.

Mind U, even the supposedly super duper PSmallCap, when viewed in end period of end 2008/early 2009 sucks to high heaven too and personally, my other Pru SmallCap fund sucked too during those end periods.

Just sharing a thought on different "end period" time lines effects on a fund or any funds, not the only truth yar

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Added on January 6, 2012, 4:03 pmWell, IMHO, if 3 years+ tak jadi AND the current period is not a down-er (eg. end 2008/early 2009 kinda thing), i'd give it up and look to move into another equity fund. Hehhe - i'd just fix the mistake and admit my stupidity in picking that dang thing.
Pls note yar, this is just my own methods - may be illogical to others.

This post has been edited by wongmunkeong: Jan 6 2012, 04:16 PM


Attached File(s)
 PCIF.zip ( 17.35k ) Number of downloads: 46

Just to share, since i've just done this up for a friend of mine:
PIX's & PAGF's performance for
5 & 10 years ending 13/01/2012 (so-so ending period)
5 & 10 years ending end 2010 (good ending period)
5 & 10 years ending end 2008 (bad ending period)

PFEPRF's, PFES', PSEASF's & PRSEC's performance for
3 years ending 13/01/2012 (so-so ending period)
2 years ending end 2010 (good ending period) - pls ignore the PDF's title being off a bit
1+ years ending end 2008 (bad ending period)
Please note that 3 and less years dug up as PSEASF just launched in 02/10/2007

Note
1. The reason of choosing different ending periods is to purposely "see" the bad times' and good times' performance.
2. Data pressed out of PM's software, FPAdvisor.
3. Use at your own risk


This post has been edited by wongmunkeong: Jan 20 2012, 09:25 AM


Attached File(s)
 PFEPRF__PSEASF__PRSEC__PFES_3_years___1_yrs_performance.pdf ( 1.09mb ) Number of downloads: 59
 PAGF___PIX_5_years___10_years.zip ( 431.08k ) Number of downloads: 18

EmpireKhoo - if U really invested into Public Mutual itself, U should be laughing all the way to the bank

However, if U invested in one of Public Mutual's funds AND don't know which, you should be thanking your lucky stars it's not a negative return/loss - know the saying about "xxxxs and $ are soon parted"?
From your blog - you're working as an engineer and yet U do not state the specifics.
How are fellow forumers to digest the needed data/info and advise?

Specifics are:
a. What fund did you get into?
b. What's your definition of "less risky"?
c. What's your aim for this chunk of $ by when?
etc.

Engineers these days... (sorry old man's ramblings )

Sorry bro, not flaming per se I've just got high expectations of engineers / specific science people

Ok ok - my 2 cents point of view here. Please note - NOT gospel truths yar, just my own POV.

Based on the stats above (and the same blah blah past what not does not mean future what not) pressed out of PM's FPAdvisor:
1. PSF is a better defensive fund VS PGF & PBOND (see 5yrs ending 2008)
2. PGF is a better returns fund VS PSF & PBOND (see 5 yrs ending 2012 yesterday)
3. PSF VS PGF - Sharpe Ratio (risk vs returns measurement - google "Sharpe Ratio")
a. Big enough a difference when market falls (PSF has higher Sharpe Ratio)
b. Too small a difference when market climbs
4. Both PGF & PSF did lower than their benchmark for 5 yrs ending 2012 yesterday. PBOND beat benchmark
5. All 3 beat benchmarks for 5yrs ending 2008
6. Pls dont compare PGF & PSF to PBOND - PBOND is a bond fund and its underlying assets are bonds and fixed income. IF U factor in service charges, PBOND (0.25% service charges only) may come up tops for bad ending years.

Bottom line:
a. Have a plan - Asset Allocation and entry/exit plans based on your own requirements (4 to 5 years for a home?)
b. It's good that U track the returns. It's even better if U know how it stands VS others AND what role that particular fund/investment plays in your overall plans (rather than "i want to make as much as possible, as fast as possible" - itu main lottery better )

This post has been edited by wongmunkeong: Jan 27 2012, 08:23 AM

U cant do PBOND with EPF.

Personally, i'm putting EPF in PSBF and then drawing down from PSBF to channel into Equity funds (via TwinVest: PAGF & PSSF + via Trend: PIX), treating PSBF as my cache of ammunition (depleting EPF A/C1 as much as possible )

Just a thought

This post has been edited by wongmunkeong: Jan 27 2012, 06:04 PM

Sorry bro - TwinVest is a methodology for Dollar Cost Averaging + Value Cost Averaging
Programmatic approach - no fear, no greed

PIX = Public Index Fund
PAGF = Public Aggressive Growth Fund
PSSF = Public Select Sector (or was it Sector Select dang old age is catching up with me ) Fund

Consult yr agent but dont get CON+inSULTed
Preferably yr agent is at heart, an investor, not just a sales fellow.

This post has been edited by wongmunkeong: Jan 27 2012, 06:23 PM

Eh bro - i didnt recommend U leh, i shared how/what i do with my EPF.
I wouldnt recommend unless i totally understand your time horizons, $ requirements, cash/epf flow, asset allocation held now and goals (phew, a sh*tload of stuff).

Semi-retired agents are good leh - experience + not out for $ alone if they get off their butts to serve U (speaking from experience heheh)

This post has been edited by wongmunkeong: Jan 27 2012, 06:40 PM

Dont cut off the nose to spite the face.

The "lousy" agent gets 0.2% PER YEAR (yup U read that right) of loaded funds held only - ie. bond fund units that was never switched from equities will never be part of the loaded fund (KPARAM & TRANSIT, pls correct me if i'm in lalaland)

The cost of EXITING all funds and RE-ENTERING with a different agent will cost yr siblings:
5.5% for equity funds via cash
3% for equity funds via EPF
0.25% bond funds

Why lar? Just stop putting additional $ in and start, if wanted, with a better advisor.

Just a thought

Agent gets CURRENT VALUE of loaded Units held *0.2%pa, NOT the cost of entry *0.2% (in yr family's case, NOT RM25K *0.2%)

Hhehe - yeah, the service charges to get back in So be kind to yr nose yar unless very very VERY bad nose lar and U dont mind bleeding to get it off yr face.

This post has been edited by wongmunkeong: Feb 1 2012, 06:42 PM

er.. if U hold $1M worth of equity funds now with yr "lousy" agent, he'll be getting $2K per year.
Yeah FOC but erm.. $2K/12mths = $166.67 wor

Oklar, if yr agent's good, then got several $1M investors, then wah.... but need a lot of millionaire investors lar hehe. The problem is millionaires dont need to use mutual funds, they have more or better options

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Added on February 1, 2012, 8:25 pmEven if one manages to get Agent A to sign-off (not easy coz like pouring out one's own rice bowl unless person of principle) and agree to change over all that customer's account to Agent B, Agent A's GAM too i think(group agency manager).

Reason i think so = i read a friend's letter stating the change over failed due to ori Agent's GAM refusing to agree -. Sigh.. small chicken feed amount also... FYI - my friend personally took the signed form to PM, thus she knows all 3 parties (current agent, customer and new agent) signed. GAM very powderful behind the scene (not on Form that customer can see) leh

This post has been edited by wongmunkeong: Feb 1 2012, 08:28 PM